Channel 9 is on MSDN and not from Outer Space, to begin with. See comments from Dave Winer, Slashdot, and Channel 9 co-conspirator Robert Scoble.
As a Microsoft.com product manager, I ought to be saying something about how Channel 9 doesn’t look like the corporate site. But I think that’s a strength. It’s pretty clear that these are real people inside the company communicating with the customer, not “the voice of the company.” Which is, I think, rather the point of blogging in general.